The National Stock Exchange (NSE) is set to appoint Srinivas Injeti, currently a board member of the bourse, as its chairman, subject to approval from the Securities and Exchange Board of India (Sebi), said a person familiar with the matter.
The post of chairman has been vacant for more than a year now, after Girish Chandra Chaturvedi’s term ended in July 2024.
As per regulations, the stock exchange chairperson is elected by the governing board of members from the public interest directors of NSE, and the election is subject to Sebi’s prior approval.
About Injeti
Injeti was appointed as a public interest director on 3 September.
A retired 1983-batch IAS officer, Injeti, has served as secretary to the government and was the founding chairperson of the International Financial Services Centres Authority (IFSCA), the regulator for GIFT City. He served the term as the chairperson for IFSCA from July 2020 to July 2023.
He has decades of experience in corporate and financial regulation, insolvency law, competition law and related areas.
An email sent to NSE remained unanswered till press time.
For NSE, consolidated profit after tax increased 10% year-on-year to ₹2,924 crore in the April-to-June quarter. Consolidated revenue from operations fell 17% to ₹4,032 crore YoY in the same period. The fall in revenue was due to a fall in transaction charges income, which is the biggest contributor. Transaction charges fell by 14% YoY to ₹3,150 crore in Q1FY26.
For the stock exchange, capital raised through debt issuances in Q1FY26 stood at ₹4.2 trillion, while capital raised through equity issuances in the same period stood at ₹1 trillion. In the same quarter, equity capital raised through Initial Public Offerings (IPOs) was ₹20,000 crore.
NSE’s market share in the cash market in the April-to-June quarter fell by 80 basis points to 93.8% compared to the previous quarter. In equity options, its market share fell 2.6% compared to the previous quarter. The exchange’s market share remained the same at 99.8% in equity futures during the quarter.
